Money Laundering & its Prevention
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The recent cases of money laundering unearthed paint a sorry picture of India’s vulnerability in the financial sector. But more than that, Money laundering is a serious internal security threat. In this article, we will try to decode the problem of Money laundering.
What is Money Laundering?
Money laundering is a process of transforming the proceeds of crime into apparently legitimate money and other assets. It is manipulating the trail of criminal proceeds to disguise its illegal origin. INTERPOL defines money laundering as, "any act or attempted act to conceal or disguise the identity of illegally obtained proceeds so that they appear to have originated from legitimate sources".What is the global status?
The United Nations Office on Drugs and CrimeRelated Posts
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